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Fazoli’s sold to Newk’s & TGI Fridays parent

Sentinel Capital Partners has expanded its diversified portfolio of restaurant brands through the acquisition of a controlling interest in the Fazoli’s fast-Italian concept from Sun Capital Partners. The price and other details were not disclosed.

Sentinel, a private-equity firm, already owns the Checkers and Rally’s sister drive-thru brands, the Newk’s Eatery fast-casual sandwich concept and the TGI Fridays casual-dining chain.

All of its holdings are franchised. Eighty-nine of Fazoli’s 213 units are franchised. The chain operates in 26 states.

Fazoli’s was acquired by Sun Capital in 2006. Since then, it has gone through an image update and refurbishment program. Pasta and breadsticks remain the concept’s signatures.

It has experimented with a fast-casual Italian spinoff called Venti Tre.

Even with the sale, Sun Capital remains one of the industry’s largest restaurant owners, with 24 brands in its fold.
 

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